Nov 2, 2017

GOP tax bill scores against pro sports stadiums

The House GOP tax bill unveiled on Thursday would eliminate a tax break that has been regularly used to help finance the construction of new stadiums for professional sports teams.

Bottom line: This new language means that more pro team owners would need to pony up for their own facilities, as it would be much harder to convince state and municipal lawmakers to approve bond packages that are no longer tax exempt. Since 2000, there have been around $13 billion worth of tax-exempt bonds issued for stadium construction.

The new language removes tax exemption for any bonds whose proceeds are used to finance capital expenditures for any facility that is used for pro sports games, training or exhibitions at least five days in a calendar year. This is in keeping with the spirit of the authors of the last major tax reform in 1986, although their actual language created the loophole that today's tax-writers are seeking to close.

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Mass shooting in Milwaukee: What we know

Milwaukee Mayor Tom Barrett in 2012. Photo: John Gress/Corbis via Getty Images

Six people died in a shooting at the Molson Coors Brewing Company in Milwaukee on Wednesday, including the gunman, Mayor Tom Barrett told reporters at a Wednesday evening press conference with local police.

Details: All of the victims worked at the brewery complex, as did the shooter who died of "an apparent self-inflicted gunshot wound," police confirmed in a statement late Wednesday.

Go deeperArrowUpdated 2 hours ago - Politics & Policy

Coronavirus updates: South Korea case count tops 2,000

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

33 people in California have tested positive for the coronavirus, and health officials are monitoring 8,400 people who have recently returned from "points of concern," Gov. Gavin Newsom said Thursday.

The big picture: COVID-19 has killed more than 2,850 people and infected over 83,000 others in some 50 countries and territories. The novel coronavirus is now affecting every continent but Antarctica, and the WHO said Wednesday the number of new cases reported outside China has exceeded those inside the country for the first time.

Go deeperArrowUpdated 2 hours ago - Health

Syria's darkest chapter

Family room without a family, in Idlib. Photo: Muhammed Said/Anadolu Agency via Getty Images

The worst humanitarian crisis of Syria’s brutal civil war is colliding today with what could be the war’s most dangerous geopolitical showdown, after at least 29 Turkish troops were killed in an airstrike.

The big picture: The fighting is taking place in Idlib in northwest Syria, where a ferocious Syrian and Russian offensive has displaced 1 million civilians and infuriated Turkey, which borders the region.

Go deeperArrow4 hours ago - World